30-year rates are hovering near 4%, VA loans and FHA mortgages are also going down. You need to be very aware of this especially if you’re to start refinancing your home or you’re shopping for your first home.
How Mortgage Rates Connect To The Fed Funds Rate
The Federal Reserve’s Federal Open Market Committee (FOMC) adjourns from a scheduled two-day meeting Wednesday afternoon. The meeting’s outcome will influence the mortgage bond market which, in turn, will change current mortgage rates for consumers nationwide. If you’re shopping for a home, then, or about to start a refinance, consider… Read more at The Mortgage Reports
Mortgage rates are going up after Trump’s presidenctial race victory had no adverse impact on home purchases by American citizens, according to mortgage analysis by Zillow Group.
Here’s how a Fed rate hike will impact mortgage payments in 12 major US cities
Still, potential homebuyers, expecting further rate hikes, are increasingly looking to lock in low rates before they go up, while refinance requests have dropped significantly (32% on Zillow) since November. The Fed is meeting this week and is widely expected to raise the benchmark Fed funds rate by 25 basis points to a range between 0.50% and 0.75%. That increase is likely to have an effect on mortgage rates going forward… Read more at Business Insider